Stocks edged higher in cautious gains after Monday's rally pulled the Dow Jones Industrial Average and S&P 500 to their best gains in six months. Financials rose after the Trump White House talked up tax reform before year's end.
Tech was in wait-and-see mode ahead of an early afternoon Apple Inc. AAPL event. Apple is expected to unveil three new smartphone models. Tech names such as Nvidia Corp. (NVDA) and Broadcom Ltd. (AVGO) moved lower.
MGM Resorts International (MGM) declined after announcing plans to repurchase 10 million shares from its largest shareholder Tracinda. MGM will pay just 1% less than its per-share Monday close.
Alexion Pharmaceuticals Inc. (ALXN) was active after announcing plans to cut one-fifth of its global workforce and move its headquarters from Connecticut to Boston. Restructuring efforts should provide savings of around $250 million in adjusted profit by 2019.
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